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86- 106983
<br />for record, in the Register of Deeds office in the County where the property is
<br />located, a notice of default, setting forth the name of the Trustor, the Book
<br />and Page or Document No. of this Deed of Trust Construction Security Agreement
<br />as recorded in said Register of Deeds office, the legal description of the above -
<br />described real estate and that a breach of an obligation, for which said real
<br />estate was conveyed as security, has occurred, and setting forth the nature of
<br />such breach and the Trustee's election to sell the real estate to satisfy the
<br />obligation; and after the lapse of not less than one (1) month, the Trustee
<br />shall give written notice of the time and place of sale which may be between
<br />9:00 a.m. and 5 p.m. at the premises, or at the Courthouse in the County wherein
<br />such property is located, describing the property to be sold by its legal
<br />description, said notice to be published in a newspaper of general circulation
<br />in the County wherein such property is located, once a week for five (5) consecutive
<br />weeks, the last publication to be at least ten (10) days, but not more than thirty
<br />(30) days, prior to the sale; and the Trustee shall then sell said property at the
<br />time and place designated in the notice, in the manner provided by law in effect
<br />at the time of filing said notice, at public auction to the highest bidder for
<br />cash and shall deliver to such purchaser a deed to the property sold, consistent
<br />with the law in effect at the time.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the
<br />purchaser, Trustee's deed conveying the property sold. Recitals in the Trustee's
<br />deed shall be prima facie evidence of the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including but not limited to,
<br />Trustee's fees of not more than one percent (1%) of the gross sale price,
<br />reasonable attorney fees and costs of title evidence; (b) to all suns secured
<br />by this Deed of Trust Construction Security Agreement; and (c) the excess, if any,
<br />to the person or persons legally entitled thereto. Any person, including Benefi-
<br />ciary, may purchase said property at said sale.
<br />The person conducting the sale may, for any cause he or she deems expedient,
<br />postpone the sale from time to time until it shall be ccmpleted and, in every
<br />such case, notice of postponement shall be given by public declaration thereof
<br />by such person at the time and place last appointed for the sale; provided, if
<br />the sale is postponed for longer than one (1) day beyond the date designated in
<br />the notice of sale, notice thereof shall be given in the same manner as the
<br />original notice of sale.
<br />14. Remedies Not Exclusive. Trustee and Beneficiary, and each of then,
<br />shall be entitled to enforce payment and performance of any indebtedness or
<br />obligation secured hereby and to exercise all rights and powers under this
<br />Deed of Trust Construction Security Agreement or under any loan instrument or
<br />other agreement or any laws now or hereafter enforced, notwithstanding scme or
<br />all of the indebtedness and obligations secured hereby which may now or here-
<br />after be otherwise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment or otherwise. Neither the acceptance of this Deed of Trust Construction
<br />Security Agreement nor its enforcement, whether by court action or pursuant to the
<br />power of sale or other powers herein contained, shall prejudice or in any manner
<br />affect Trustee's or Beneficiary's right to realize upon or enforce any other
<br />security now or hereafter held by Trustee or Beneficiary, it being agreed that
<br />Trustee and Beneficiary, and each of then, shall be entitled to enforce this
<br />Deed of Trust Construction Security Agreement and any other security now or
<br />hereafter held by the Beneficiary or Trustee in such order and manner as they,
<br />or either of them, may in their absolute discretion determine. No remedy herein
<br />conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive
<br />of any other remedy herein or by law provided or permitted, but each shall be
<br />cumulative and shall be in addition to every other remedy given hereunder or now
<br />or hereafter existing at law or in equity or by statute. Every power or remedy
<br />given by any of the loan instruments to Trustee or Beneficiary or to which either
<br />of them may be otherwise entitled may be exercised, concurrently or independently,
<br />fray time to time and as often as may be deaned expedient by Trustee or Beneficiary,
<br />and either of then may pursue inconsistent remedies. Nothing herein shall be
<br />construed as prohibiting Beneficiary from seeking a deficiency judgnent against
<br />Trustor to the extent such action is permitted by law.
<br />15. Request for Notice. Trustor hereby requests a copy of any notice of
<br />default and that any notice of sale hereunder be mii -iled to Trustor at the address
<br />set forth in the first paragraph of this Deed of Trust Construction Security
<br />Agreement.
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